1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
notka56 [123]
3 years ago
13

If you invested $600 at 3% simple interest for 2 years, how much interest do you earn? Show work and answer in complete sentence

s to earn full credit. If you invest $600 at 4% compounded monthly for 2 years, how much interest you do earn? Show work and answer in complete sentences to earn full credit. Which would you rather do?
Mathematics
1 answer:
zzz [600]3 years ago
7 0

Answer:

I would rather do the second option of which uses Compound interest that will give a profit of $47.85

Step-by-step explanation:

In this problem we will be exploring the two formulas

1. simple interest

A= P(1+r*t)

2. compound interest

A= P(1+r/n)^nt

Where A= final amount

P= initial amount

r= rate

t= time.

n= number of periods Compounded

1.given data

P= $600

r= 3%= 3/100= 0.03

t= 2 years

A= 600(1+0.03*2)

A= 600(1+0.06)

A= 600(1.06)

A= $636

Interest = 636-600= $36

2. Given data

P= $600

r= 4%= 4/100= 0.04

n= 24

t= 2

A= 600(1+0.04/24)^24*2

A=600(1+0.0016)^48

A=600(1.0016)^48

A= 600*1.07975

A= 647.85

Interest = 647.85-600= $47.85

You might be interested in
Evaluate 5t + 4 if t=3<br><br><br> PLEASE HURRY! I'M TIMED!
Wittaler [7]
Substitute the value of the variable into the equation and simplify.
19
4 0
3 years ago
The number p and −1.2 are additive inverses. Drag and drop −1.2 and p to their correct positions on the number line. Drag and dr
klemol [59]

Answer:

p=1.2

Step-by-step explanation:

Additive inverse of any number means a number which can be added to the original number to get

Two numbers are said to be additive inverse of each other if sum of both numbers is 0. For example if 5 is the given number then -5 will be it's additive inverse. So to find additive inverse, we basically change the sign of number.

Given number p is additive inverse off -1.2 so p must be 1.2.

Sum will obviously be 0.

So to graph them on number line, we make a point at -1.2, 1.2 and at 0 for their sum.


3 0
3 years ago
Read 2 more answers
NEED HELP ASAP Need someone to explain how to do this
DIA [1.3K]

Answer:

Oh cool! The answer is 90 since a and c or parallel, b cuts through them perpendicularly, forming a right angle.

Step-by-step explanation:

6 0
3 years ago
What is the slope of the line y - 5 = -4(x - 8)?
galben [10]

Answer:

-4

Step-by-step explanation:

This looks like point-slope form, which I find personally hideous. Let's change it to slope-intercept form to ease my conscience. (remember that slope-intercept form is y=mx+b, where m=slope and b=y-intercept!)

y - 5 = -4(x-8)

y - 5 = -4x + 32

y = -4x + 37

It's in slope-intercept form now! And -4 looks to be our m.

<u>So the slope is -4.</u>

4 0
3 years ago
Read 2 more answers
Draw a line representing the rise and a line representing the sun of the line. State the slope of the line in simplest form.
nevsk [136]
You have to post a pic I don’t understand
4 0
3 years ago
Other questions:
  • Convert.
    9·1 answer
  • What is 104,229 rounded to the nearest ten thousand
    10·2 answers
  • Elaine travelled 354.9 miles on her last tank of gas. When she stopped to get gas, her car required 9.1 gallons of gas. How many
    15·1 answer
  • Find the area of a triangle with a base length of 6 units and a height of 7 units. (1 point) 10 units 13 units 14 units 21 units
    11·2 answers
  • A number that has both a whole number and a fraction is called a(n)
    11·1 answer
  • How many solutions does the system have?
    13·1 answer
  • A frozen yogurt shop allows guests to fill a cone shaped cup with frozen yogurt, and customers pay $0.08 per cubic inch. If each
    14·1 answer
  • There are 10 girls and 6 boys in a class. The teacher randomly draws one student's name and then draws another. What is the prob
    5·2 answers
  • 2m+11=-73 what number does m=?
    9·2 answers
  • Find the value of x
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!